Notwithstanding these factors the performance for Q2FY09 has been good. On a YoY, the consolidated total revenues was up 42% at Rs.9,020 crore. The mobile business accounted for 81% of total revenues. EBITDA rose 37% at Rs.3,699 YoY. PAT was up 27% at Rs.2,046 crore. It generated cash profit of Rs.3,125 crore, up 20% YoY.
Bharti had 7.99 crore subscribers, as on September 30, 2008, an increase in the total subscriber base of 57% over the corresponding period last year and maintained its leadership position through an improved market share of all India wireless subscribers at 24.6% as on September 30, 2008, up from 23.4% corresponding to the same period of last year.
The company anticipates to launch its 3G services in the six months of spectrum allocation. The 3G spectrum is due for auction on 30th Jan’09 and allocation will take place within a few after auction. With RCom launching its GSM nationwide, Bharti is sure to feel the heat and once number portability also comes, market share of Bharti could get eaten away by RCom.
Telecom is one sector which remains unaffected to a large extent by the slowdown and Bharti being the number one telecom company of India, is a good long term stock in your portfolio.